§ 18-4004

Maryland § 18-4004

• Jurisdiction: Maryland
• Article ged: Education
• Title: 18

Text

(a) There is a Fallen Transportation Workers Scholarship Fund.

(b) The Commission shall administer the Fund.

(c) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.

(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

(d) The Fund consists of:

(1) Money appropriated in the State budget to the Fund;

(2) Interest earnings; and

(3) Any other money from any other source accepted by the Commission for the benefit of the Fund.

(e) The Fund may be used only to award scholarships under the Program.

(f) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(2) Any interest earnings of the Fund shall be credited to the Fund.

(g) Expenditures from the Fund may be made only in accordance with the State budget.

(h) The Commission:

(1) May accept any gift or grant from any person for the Fund; and

(2) Shall deposit any gift or grant that it receives for the Program with the State Treasurer.

(i) Funding for the Program shall be as provided in the State budget.